Chine Production Industrielle

China’s industrial production grew by 5.4% yoy in September 2024, above forecasts of 4.6% and accelerating from August's five-month low of 4.5%. It was the fastest expansion in industrial output since May, marking the 1st acceleration in five months, amid the government's efforts to spur growth. Output growth mostly accelerated in manufacturing (5.2% vs. 4.3% in August) and the electricity, heat, gas, and water production and supply sectors (10.1% vs. 6.8%), while growth in mining remained steady (at 3.7%). Within manufacturing, 36 out of 41 major sectors advanced, notably railway, ship, and aviation (13.7%); computer and communication (10.6%); heat production (10.2%); non-ferrous metal smelting (8.8%); textile (5.1%); special equipment manufacturing (4.6%); and chemicals (4.6%). By contrast, output fell for non-metallic mineral products (-3.8%). For the 1st nine months of the year, industrial output rose by 5.8%. Monthly, industrial output increased by 0.59%, the most in five months.